Insights articles https://www.gam.com 2018 Outlook – The Merits of Active Management https://www.gam.com/en/insights-content/2017/investment-opinions/2018-outlook/ GAM’s investment experts share insights on how active management adds value in their specialist fields. 2017-12-12T00:00:00 Larry Hatheway on Markets - December 2017 https://www.gam.com/en/insights-content/2017/macroeconomics/larry-hatheway-on-markets-december-2017/ Chief economist and head of GAM Investment Solutions, Larry Hatheway, discusses the macroeconomic outlook for 2018, including his expectations for global equity and bond markets, monetary policy and the biggest risks to investors in the year ahead. 2017-12-07T00:00:00 Inflation’s Endgame, Volatility’s Vengeance https://www.gam.com/en/insights-content/2017/thematic/inflations-endgame-volatilitys-vengeance/ A gradual decline into disorder? GAM’s Christian Gerlach examines the phenomenon of ‘modern growth’ and ponders the potential implications of the destruction of the ‘utopia of the future’ on distorted asset prices. 2017-12-06T00:00:00 Unconstrained Opportunities and Cheap Parachutes https://www.gam.com/en/insights-content/2017/thematic/unconstrained-opps-and-cheap-parachutes/ GAM’s Tim Haywood believes an absolute return approach to fixed income could prove ideal against a backdrop of rising interest rates and a reversal of QE 2017-12-01T00:00:00 The Balanced Portfolio Has Had Its Time https://www.gam.com/en/insights-content/2017/investment-opinions/the-balanced-portfolio-has-had-its-time/ As originally featured in Bloomberg Prophets, Larry Hatheway believes the days are numbered for the multi-asset trinity of positive correlation, high return and low volatility. 2017-11-28T00:00:00 UK Autumn Budget https://www.gam.com/en/insights-content/2017/macroeconomics/uk-autumn-budget/ On 22 November, following a particularly animated Prime Minister’s Questions with Jeremy Corbyn and Prime Minister Theresa May, Chancellor Phillip Hammond stood up to deliver his Autumn budget. GAM’s investment director Charles Hepworth highlights the key takeaways. 2017-11-22T00:00:00 Diving For Pearls − China Bond Connect https://www.gam.com/en/insights-content/2017/thematic/diving-for-pearls-china-bond-connect/ Making the connection: GAM’s Amy Kam outlines the potential of China’s bond markets for foreign investors. 2017-11-21T00:00:00 China: The Blue Chip Comeback https://www.gam.com/en/insights-content/2017/thematic/china-the-blue-chip-comeback/ Three years on from the launch of the Shanghai stock connect programme, which allows investors outside China to access locally listed shares, we asked GAM’s Jian Shi Cortesi what the impact has been on her strategy. 2017-11-17T00:00:00 Larry Hatheway on Markets - November 2017 https://www.gam.com/en/insights-content/2017/macroeconomics/larry-hatheway-on-markets-november-2017/ Chief economist and Head of GAM Investment Solutions, Larry Hatheway, discusses the current global macro environment, the biggest risks to investors in the remainder of 2017 and the impact of political uncertainty on markets. 2017-11-09T00:00:00 India: Idiosyncratic and Untapped https://www.gam.com/en/insights-content/2017/thematic/india-idiosyncratic-and-untapped/ Tim Love, investment director for emerging market equities at GAM, explores the major growth opportunities in India, such as weddings, luxury travel and Bollywood, and the equity market’s untapped potential at a time when China growth is showing signs of slowing. 2017-11-07T00:00:00 The Importance Of Dividends https://www.gam.com/en/insights-content/2017/investment-opinions/the-importance-of-dividends/ With bond yields continuing to hover around historically low levels, GAM’s Adrian Gosden and Chris Morrison revisit the case for accruing and reinvesting dividend income from a portfolio of equities. 2017-11-02T00:00:00 Can The Emerging Markets Rally Continue? https://www.gam.com/en/insights-content/2017/investment-opinions/can-the-emerging-markets-rally-continue/ Michael Biggs, investment manager, emerging markets fixed income at GAM explains why he believes the current emerging markets rally has further to go. 2017-10-31T00:00:00 A New Era in Regenerative Medicine https://www.gam.com/en/insights-content/2017/thematic/a-new-era-in-regenerative-medicine/ Why was 30 August 2017 a historic day for science and innovation? Mirjam Heeb, senior portfolio manager explains the benefits of recent disruptive developments in regenerative medicine. 2017-10-27T00:00:00 Larry Hatheway on Markets - October 2017 https://www.gam.com/en/insights-content/2017/macroeconomics/larry-hatheway-on-markets-october-2017/ Chief economist and Head of GAM Investment Solutions, Larry Hatheway, discusses the current global macro picture, the on-going Q3 earnings season and the effect of the expected tapering by central banks on the markets. 2017-10-25T00:00:00 Risk Factor: Beyond the Linear Approach https://www.gam.com/en/insights-content/2017/we-think/risk-factor-beyond-the-linear-approach/ For many investors with traditional long-only equity and bond portfolios, the era following the Global Financial Crisis (GFC) has proved a very lucrative one. Risk assets, such as equities and bonds, have been driven relentlessly higher, largely by central bank liquidity. This has been an indiscriminate rally, or 'a rising tide that has lifted all boats'. As a result, equity and bond markets per se look expensive. 2017-10-19T00:00:00 MBS: Navigating Pre-, Post- and Crises Periods https://www.gam.com/en/insights-content/2017/thematic/mbs-navigating-pre-post-and-crises-periods/ For many people, the Global Financial Crisis (GFC) has yet to ‘celebrate’ its 10th anniversary. Amid all the strenuous denials from economists, central bankers, politicians and finance officials, it can be difficult to objectively pinpoint the one single event that signalled the meltdown and mayhem. 2017-10-18T00:00:00 Outlook: Hitting the Target https://www.gam.com/en/insights-content/2017/macroeconomics/outlook-hitting-the-target/ Although not ‘all weather’, the standard asset allocation approach has served investors well. However, it is time for a rethink: the 60-40 model of a balanced portfolio of stocks and bonds no longer looks fit for purpose. GAM’s Head of Investment Solutions and Chief Economist Larry Hatheway explains why. 2017-10-17T00:00:00 Building on Firm Ground https://www.gam.com/en/insights-content/2017/thematic/building-on-firm-ground/ UK and European economies are on a relatively solid footing, says Jon Rickert, investment director at GAM, and private commercial real estate lending will prosper. 2017-10-12T00:00:00 Fund Manager Portrait – Tim Haywood https://www.gam.com/en/insights-content/2017/our-managers/fund-manager-portrait-tim-haywood/ Meet Tim Haywood, Investment Director at GAM and business unit head for fixed income, responsible for the absolute return bond family of funds as well as various long only fixed income mandates. 2017-10-11T00:00:00 Low Index Volatility: Great Active Opportunities? https://www.gam.com/en/insights-content/2017/investment-opinions/low-index-volatility/ Kenneth Liew, Portfolio Manager, Multi Asset Portfolio Solutions takes a look at low index volatility, important underlying trends – and the impact on portfolio construction. 2017-10-05T00:00:00 Is China in a ‘Sweet Spot’? https://www.gam.com/en/insights-content/2017/thematic/is-china-in-a-sweet-spot/ Michael Lai, investment director explains how China is stemming the flood of overseas investment and dealing with debt, to maintain economic growth. 2017-10-04T00:00:00 Active Management Fights Back! https://www.gam.com/en/insights-content/2017/investment-opinions/active-management-fights-back/ Over the last few years, competition has increased in the asset management industry, fees have been under pressure and performance among active managers has, in aggregate, been disappointing. It wasn’t always this way. And we think it won’t be this way as we look forward. 2017-10-02T00:00:00 Sustainable Investing – Time For A Holistic View https://www.gam.com/en/insights-content/2017/thematic/sustainable-investing-time-for-a-holistic-view/ Karl Herzog and Thomas Funk from the Swiss equities team explain how they screen companies based on a comprehensive list of sustainability criteria. Their goal is as simple as it is ambitious, aiming to identify the long-term winners in an increasingly complex and competitive environment. 2017-09-29T00:00:00 Snap Election in Japan: An Investor’s View https://www.gam.com/en/insights-content/2017/regional/snap-election-in-japan-an-investor-s-view/ On Monday Prime Minister Shinzo Abe announced his plans to dissolve the lower house of Japan’s parliament on 28 September and to call a snap election in October. What will be the impact for markets against the backdrop of encouraging fundamentals but prevailing tensions with North Korea? 2017-09-28T00:00:00 Larry Hatheway on Markets - September 2017 https://www.gam.com/en/insights-content/2017/macroeconomics/larry-hatheway-on-markets-september-2017/ Chief economist and Head of GAM Investment Solutions, Larry Hatheway, discusses the outlook for global equity and bond markets, his expectations for monetary policy and the biggest risks to investors in the next quarter. 2017-09-27T00:00:00 Absolute Returns in all Environments https://www.gam.com/en/insights-content/2017/thematic/absolute-returns-in-all-environments/ Tim Haywood, investment director for absolute return fixed income strategies, shares his views on the current macroeconomic environment and opportunities in the bond markets. 2017-09-21T00:00:00 A Sustainable Approach to Generating Returns https://www.gam.com/en/insights-content/2017/thematic/a-sustainable-approach-to-generating-returns/ Gianmarco Mondani, CIO of the non-directional equity team in Lugano, explains the academic background behind his strategy, which employs a fundamental, earnings revision-based approach, incorporating both valuation and momentum metrics, and aims to deliver favourable outcomes in the majority of calendar years. 2017-09-19T00:00:00 Big Data and Investing https://www.gam.com/en/insights-content/2017/thematic/big-data-and-investing/ Investment managers are using big data and artificial intelligence to enhance the diversification and risk/return potential of portfolios. 2017-09-14T00:00:00 Convertibles: A Compelling Solution https://www.gam.com/en/insights-content/2017/thematic/convertible-bonds/ Convertible bonds’ combination of cheap valuations and equity exposure would provide a very attractive asymmetrical return profile in a rising interest rate environment. Jonathan Stanford, senior fund manager, non-directional equity, explains. 2017-09-08T00:00:00 Why Stocks Can Shrug Off Bonds https://www.gam.com/en/insights-content/2017/investment-opinions/why-stocks-can-shrug-off-bonds/ This year, equity markets have broadly advanced, despite significant gyrations in bond yields. To some, that seems odd. How can stocks ignore bond moves, in particular episodes of rising yields? Chief economist Larry Hatheway explains why. 2017-08-29T00:00:00